Trading

We've taken the strength of the market leading CommSec trading platform and enhanced it with additional features for advisers trading on behalf of their clients.

Combine this with expert support from our dedicated Adviser Service Team and you’ll begin to understand how the CommSec Adviser Services adviser trading platform can help you do more with your client trading.

Quickly respond to market movements and save time by getting multiple clients in or out of a single stock at once with the easy-to-use ‘Single Stock, Multi-Client’ order pad.

Products

The CommSec Adviser Services Online Trading platform offers a wide range of trading products and services so you can offer your clients a complete service. Whatever your clients’ trading needs, we have a solution. Learn more about these and other features with the CommSec Adviser Services User Guide (PDF).

Options

Options are suitable for experienced investors looking for more sophisticated investment alternatives. They can offer a powerful and flexible tool that can be used to enhance a portfolio in a number of ways:

Profit from a view, no matter whether the market is moving up, down or sideways

Access the underlying stock for a fraction of the cost of a direct investment

Earn extra income from a portfolio by writing Options and receiving a premium

Options strategies range from the simple to the complex and can be tailored to suit investment goals and appetite for risk. Like any derivative product, Options can involve risk, and all investors and advisers must have a clear understanding of this before trading.

To take up Tier 2 Options trading you will need to complete the ”Trading Level Upgrade” form found within the “Exchange Traded Options Application PDS and Application” or located under the Forms tab above.

Warrants

Warrants are unique trading instruments that are issued by banks and other institutions and traded on the ASX. Warrants are 'non-standard' - in other words, each one is different and will offer different features. Depending on the features of the individual warrant, you can use them to:

Gain leveraged exposure to an underlying share

Diversify your portfolio

Generate income through dividends and franking credits

Protect your portfolio.

You need to read the Product Disclosure Statement provided by the issuer of a warrant to assess its features and whether it meets your trading and investment purposes, before you decide to invest.

Complete and sign the "Warrant Agreement Form" located under the Forms tab above.

IPOs

IPOs through CommSec Adviser Services provide the opportunity to get priority access and provide a value add for clients. Access IPOs for your clients and subscribe to alerts, so you’ll know about new offers as soon as they're available.

Conditional orders

Conditional orders allow you to specifically implement trading strategies on behalf of your clients. Below is a brief description of the conditional orders we offer:

Falling sell: Instruction to place a sell order on the market at a limit price when the security price falls to orbelow a pre-determined price you have established as a trigger price.

Falling buy: Instruction to place a buy order on the market at a limit price when the security price falls to orbelow a pre-determined price you have established as a trigger price.

Rising sell: Instruction to place a sell order on the market at a limit price when the security price rises to or above a pre-determined price you have established as a trigger price.

Rising buy: Instruction to place a buy order on the market at a limit price when security price rises to or above a pre-determined price you have established as a trigger price.

Trailing sell: Instruction to place a sell order at a Market price when the security price rises to or above a level you have set as your trail start price; and then experiences a fall equal to or greater than the trail stop value you have set.

Trailing buy: Instruction to place a buy order at a Market price when the security price falls to or below a level you have set as your trail start price; and then experiences a rise equal to or greater than the trail stop value you have set.

One Off Trade Service

Using our One Off Trade Service you can sell issuer sponsored shares on behalf of a client without the need to open an account. Your client must have an existing account with CommSec Adviser Services, CommSec or the Commonwealth Bank. To complete a One Off Trade on behalf of a client:

Subscription Packages

To upgrade to any of our enhanced subscription packages, simply download and complete a Change of Information Services form (PDF) (access to subscription packages is based on the agreement with your dealer group). Fees and charges apply.

Use this form to identify your client as a wholesale client. This form and the required supporting evidence must be submitted with the application form for commission to be paid on the Accelerator Cash Account.

Complete this form to change your clients’ settlement method, request for your client’s dividends to be paid directly to their linked ACA, and/or to change their nominated bank account used for settlement of trades or their nominated bank account used to transfer funds to and from their cash account by Direct Debit/Credit authority.

Complete this form to change your client details. This form can be used to: change address, contact details, personal name, company details (including company address/contact, company name, remove or add a director/secretary authorised to operate on the company account) and change a SMSF/Trust Account Designation. Please arrange for both you and your client to sign it before sending to us for processing.

Complete this form to sell issuer sponsored share holdings on behalf of a client without the need to open an account. Your client must have an existing account with CommSec Adviser Services, CommSec or the Commonwealth Bank. Please ensure clients are also made aware of our Best Execution Policy.

There are a range of strategies that can be used to pre-define entry and exit points for a given security, including Falling Sell, Rising Buy, Falling Buy, Rising Sell, Trailing Buy and Trailing Sell.

Falling Sell (Stop Loss)

A Falling Sell may help you lock in gains or limit losses in a falling market. A Falling Sell order may help you to sell some or all of your client’s holdings in a company if the security price falls to the level you have set as your trigger.

Example

For example, you buy 1,000 units of XYZ Ltd at $10 per unit. You want to limit the losses of your investment, so you set a Falling Sell Trigger at $9.50, with a Falling Sell Limit Order to sell your units at no less than $9.43.

In this example, the market price for XYZ Ltd reaches $9.50 and your limit order is submitted to the market* to sell XYZ Ltd at no less than $9.43 per unit. Your stock will be sold if there are sufficient buyers in the market willing to buy at a price of $9.43 or higher.

A Rising Sell may help with taking a profit when a security price rises. A Rising Sell order may help you to sell some or all of your holdings in a company when the security price rises to the level you have set as your trigger.

Example

For example, you have been watching the price of XYZ Ltd, which has been trading at $4.00 per unit and appears to be rising. You could set a Rising Sell Trigger with a trigger price of $4.40 and a limit price of $4.33.

In this example, the market price of XYZ Ltd reaches $4.40, your limit order will be submitted to the market* to sell XYZ Ltd at no less than $4.33. Your stock will be sold if there are sufficient buyers in the market willing to buy at a price of $4.33 or higher.

A Rising Buy may help you take advantage of a security that's on the rise. A Rising Buy order may help you to buy a security when the unit price rises to or above the level you have set as a trigger. You also set a limit price above the trigger price (setting the maximum price you are willing to pay for the security).

Example

For example, you are researching the security price of XYZ Ltd, which is currently trading at $9.10 per unit. Your charting analysis shows that if the price rises to $9.15, it is likely to continue to rise beyond that due to momentum in the security. You could set a Rising Buy Trigger at $9.15 along with a Rising Buy Limit Order at $9.19.

In this example, if XYZ Ltd reaches a price of $9.15 or higher in the market, your limit order will be submitted to the market* to buy XYZ Ltd at no more than $9.19 per unit. Your order will be fulfilled if there are sufficient sellers in the market willing to sell at a price of $9.19 or lower.

A Falling Buy may help you invest in a company when its share price falls. A Falling Buy order may help you to buy a security when the unit price falls to or below the price you have set as a trigger. You also set a limit price above the trigger price, setting the maximum price you are willing to pay for the security.

Example

For example, you have been watching the price of XYZ Ltd, which has been trading at $3.10 and appears to be declining. You could set a Falling Buy Trigger with a trigger price of $2.80 and a limit price of $2.85.

In this example, if XYZ Ltd trades at $2.80 or lower, your limit order will be submitted to the market* to buy XYZ Ltd at no more than $2.85 per unit. Your order will be fulfilled if there are sufficient sellers in the market willing to sell at a price of $2.85 or lower.

A Trailing Buy may help you maximise value when investing in a company. It may help you to buy a security when the unit price falls to or beyond a level you have set as your client’s trail start price and then experiences a rise equal to or greater than the trail stop value you have set. If the security price does continue to fall, your Trailing Buy monitors for new lows and will not trigger until a rise of at least the trail stop value from the lowest price since trailing started.

Example

For example, you have been watching the price of XYZ Ltd, which has been trading at $3.10 per unit and appears to be declining. You could create a Trailing Buy Trigger with a trail start price of $2.90 and trail stop value of $0.10.

In this example, the market price of XYZ Ltd falls to $2.90, and then experiences a rise of $0.05 to $2.95 before falling again. Because the trail stop was set at $0.10, the order did not fire. XYZ Ltd then falls to a low of $1.90 before rising by $0.10 to $2.00 which meant the market order fired at $2.00.

Please note that all market orders will be executed in accordance with our Best Execution Policy; however, as no limits can be set, a purchase price may be significantly higher than trigger value. If you would like to set a limit price please consider another of our conditional orders.

Trailing Sell

A Trailing Sell may help with maximising a profit when a security price is rising. It may help you to sell some or all of your clients’ holdings in a company when the security price rises to, or beyond a level you have set as the trail start price and then experiences a fall equal to, or greater than the trail stop value you have set. If the security price does continue to rise, your trailing sell monitors for new highs and will not trigger until a fall of at least the trail stop value from the highest price since trailing started.

Example

For example, you have been watching the price of XYZ Ltd, which has been trading at $4.00 per unit and appears to be rising. You could create a Trailing Sell Trigger with a trail start price of $4.20 and trail stop value of $0.10.

In this example, the market price of XYZ Ltd reaches $4.20, and then experiences a fall of $0.05 to $4.15 before rising again. Because the trail stop was set at $0.10, the order did not fire. XYZ Ltd then reached a high of $5.20 before falling $0.10 to $5.10 which meant the market order fired at $5.10.

Please note that all market orders will be executed in accordance with our Best Execution Policy; however, as no limits can be set, a sale price may be significantly lower than trigger value. If you would like to set a limit price please consider another of our conditional orders.

Note: The Conditional Order examples given are provided for illustrative purposes only. These examples have been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this article, consider the appropriateness of the information, having regard to the individual's objectives, financial situation and needs and, if necessary, seek professional advice. Brokerage costs apply.

Case Study - Conditional Trading

The key to successful investing is to decide on a strategy to reach your goals and then stick to it. Conditional Trading can help you keep your strategy locked in, even when your eye is off the market.

You select the share you want to watch, then set a trigger condition and order details. Our system monitors the market for you and when the share price rises or falls and your trigger conditions are met, the system submits a limit or market order on your behalf.

Example - Rising Sell

The Strategy

Declan bought 1,000 shares in ABC Ltd for $3.01 per share. His strategy was to sell when he could achieve a 20% capital gain.

The Process

Declan created a Rising Sell trigger with a trigger price of $3.65 and a limit price of $3.60. When the share price rose to $3.65, a sell order was automatically submitted for him, with a limit price of $3.60.

The Result

Declan's shares sold almost at the top of the market, at $3.63, giving him a gain of $0.62, or 21%, per share.

Example - Trailing Sell

The Strategy

Declan bought 1,000 shares in ABC Ltd for $3.01 per share. His strategy was to sell when he could achieve a 20% or more capital gain.

The Process

Declan created a Trailing Sell trigger with a trigger start price of $3.65 and a trail value of $0.10. When the share price rose to $3.65, trailing commenced.

The share price then experienced many fluctuations without falling by more than$0.10 until it reached $4.20 and then dropped to $4.09. At this point, an automated market sell order was submitted on his behalf with no limit price.

The result

Declan's shares sold almost at the top of the market at $4.07. The result was a gain of $1.06 per share - a capital gain of over 35%.

In this case study Declan was approximately 15% better off using a Trailing Sell instead of a Rising Sell however, the fired order was a market order and has a higher level of risk. Please consider a non-trailing conditional order if you would like the security of a limit price.

These examples are for illustrative purposes only. The name and identifying features do not reflect any particular person; any resemblance to a real person is coincidental.

The information on this site has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on the information on this site, consider the appropriateness of the information, having regards to the individual's objectives, financial situation and needs, and, if necessary, seek appropriate professional advice. Brokerage costs apply.

The presence of the stock mentioned should not be construed as a recommendation. No representation is given, warranty made or responsibility taken as to the appropriateness or performance of this stock.

Note: To avoid any delay in processing your client’s request, please tick the box authorising us to amend minor changes to the client’s Holder Identification Number (HIN) registration details in the event that there is a mismatch of registration details on Section 2 of the form (refer screen image below).

The completed form and a copy of the most recent Broker Sponsored Holding statement/s can be sent by:

All warrants listed on the ASX (additional forms required to trade warrants and partially paid securities)

Exchange Trade Funds (ETFs)

Exchange Traded Commodities (ETCs)

Exchange Traded Options (ETOs - where an options account has been established)

Listed company-issued options

Listed unit trusts

Listed convertible notes

Renounceable rights

Listed fixed interest securities

Australian Government Bonds

All ASX-listed securities are tradeable through Chi-X Australia market.

How do I place a trade on behalf of my client?

Once your client's trading account has been set up, there are several ways to place trades:

Online

We've made placing a share trade quick and easy by giving you the ability to place a trade in a number of different ways:

From the Quotes page, once you've located your desired security, click Buy or Sell.

From your Watchlist or Portfolio click on a stock to be taken to the Quotes Page.From there you can choose to Buy or Sell as described above.

On the main menu, navigate to Trading > Share Orders > Place Order.

To place an order you will first need to select a client. If you have not selected a client you will be redirected to the My Clients > Find Client Screen to select one. Once you have selected a client, to place an order from the Share Orders > Place Order page simply complete all fields marked with a red asterisk and follow the prompts. You can learn more about what information is required in each of the fields by hovering your mouse cursor over the question marks to the left of each field.

Step 2: You will be asked to provide your client's name and trading account details to verify them.

Step 3: You will be asked to provide your adviser code and Dealer Group name as part of our verification process. In some instances you may be required to provide more information.

Step 4: Once the details of your order have been confirmed, we will endeavour to place the order in the market.

Confirmation notes will be sent to you and your client via their preferred delivery method (email or paper confirmation notes) on the day the order is executed.

Do you offer discounted client brokerage?

Yes, we have Brokerage Bundles available for your clients who link their trading account to one or more of their existing or new Accelerator Cash Accounts, Investment Loans or Portfolio Service accounts. For more details, please contact us.

What is required when changing from an individual or joint trustee to a corporate trustee?

The Australian Securities Exchange (ASX) opening takes place at 10:00am (AEST) and lasts for about 10 minutes. Securities open in five groups, according to the starting letter of their ASX code, but reserve the right to vary these times:

A-B 10:00:00am +/- 15 secs

C-F 10:02:15am +/- 15 secs

G-M 10:04:30am +/- 15 secs

N-R 10:06:45am +/- 15 secs

S-Z 10:09:00am +/- 15 secs

The market is placed in a pre-closing phase between at 4:00pm and 4:10pm (AEST). Trading stops and brokers enter, change and cancel orders in preparation for the market closing.

The Closing Single Price Auction takes place at a random time between 4:10pm and 4:12pm (AEST). ASX calculates closing prices during this phase.

Exchange Traded Options and Index Options

Market trading hours for both exchange traded options and index options are from 10am to 4:20pm (AEST).

Trade reports may be lodged in accordance with the Market Integrity Rules

The Chi-X Australia market opening at 10:00am is a standing start for all Chi-X quoted securities. This means some securities will be available for trading on Chi-X before they are open for trading on ASX.

Please note that unlike the ASX, Chi-X Australia does not operate an opening and closing auction.

Can I place single and multi-stock trades for my clients?

Yes. You can place single stock, multi-client orders and multi-stock, single client orders through our trading platform.

Placing a single stock or multi-client order

There are two ways to access the 'Single Stock, Multi-Client' order pad:

From the My Clients > Find Client page; and

By clicking on Trading in the top menu and selecting Single Stock, Multi-Client

When starting from the My Clients > Find Client page, tick the boxes to the left of each client record to select the clients you wish to place a trade for and click Place Multi-Client Order.

Step 1. Set Up

Complete the order details in first section of the page as you would for a single order and select Apply Instructions to apply them to each client.

Amend the order details for individual client if required and click Proceed to review before placing order.

Can I sell issuer sponsored shares on behalf of my client without a trading account?

Yes, we have a One Off Trade service available to you when you wish to sell issuer sponsored shares on behalf of your clients. To use this service your clients must either be an existing CommSec Adviser Services, CommSec or Commonwealth Bank customer. Please refer to the table below for more information on eligibility requirements.

One Off Trade service eligibility requirements

Individual and Joint Shareholdings

All clients must have an existing CommSec Adviser Services, CommSec or Commonwealth Bank account. For Joint Shareholdings, all clients must hold one of these accounts.

The personal information included on the One Off Trade form for each client must match what is recorded on their existing accounts.

Company and Trust Shareholdings

The company/trust must have an existing account with CommSec Adviser Services, CommSec or Commonwealth Bank.

Information provided on the One Off Trade form such as company/trust name, address and contact details must match what is recorded on the existing accounts.

The person requesting the One Off Trade must be a signatory to an existing account of the company/trust.

Deceased Estate Shareholdings

The deceased person and the executor of the estate must have an existing CommSec Adviser Services, CommSec or Commonwealth Bank account.

If your clients do not meet the criteria of an existing customer, a CommSec Adviser Services trading account will need to be established in the same name as the shares before the holdings can be sold. The easiest way to setup a new trading account for your client is to complete the online application form. Alternatively, you can complete a paper application form. Please allow time for postage, application processing and any requests for additional information (if applicable)

T+2 Settlement

Why the change?

A shorter settlement cycle means your clients will have quicker access to their money after selling shares and earlier delivery of shares after purchasing. It will also keep Australia aligned with leading settlement practices around the world such as Europe and Hong Kong, with the United States following suit in 2017.

What happens if my clients don't have sufficient cleared funds in their settlement account on the settlement day?

Please ensure your clients are able to meet their settlement obligations prior to placing trades. Failure to provide cleared funds on the settlement day will result in failed settlement and incur penalty fees plus fail fees outlined in our Financial Services Guide.

Which products and services are impacted?

The changes apply to Australian shares, government bonds, interest rate securities, Exchange Traded Funds (ETFs), and warrants traded on the ASX and Chi-X.

The settlement period for international shares, Contracts for Difference (CFDs), and Exchange Traded Options (ETOs) will not change.

Are there any impacts on Exchange Traded Options (ETOs)?

ETOs will continue to settle on T+1. However, if the exercise/assignment results in an Australian share trade, settlement will take place on T+2. In the event that your clients are short stock, they will need to buy back the stock by 2pm (Sydney time) on the day of the exercise/assignment. Please ensure your clients have sufficient cleared funds in their settlement account by the relevant settlement day.

How are corporate actions impacted by the change such as dividends?

In conjunction with the shortening of ASX trade settlement, the period between two important dates for Corporate Actions - ex date and record date will also reduce by one day.

For instance, ABC Company announces it will be paying a dividend to its shareholders. The date the company checks its share registry to determine who should be paid the dividend is known as the record date. Any shareholders on the company’s share register on this date will receive the dividend when it is paid. The ex dividend date, or ex date, is two business days before the record date. Anybody who wishes to buy the shares and receive the dividend must have purchased the shares before this ex date.

With the new settlement period, the ex date will change from two business days before the record date to one business day before the record date.

Can my clients pay by cheque?

Cheque payments for purchasing shares will still be accepted. However, it is important that your clients understand their settlement obligations outlined in our Share Trading Terms and Conditions when taking trading instructions. From 7 March 2016, the three day cheque clearance will fall outside the new ASX T+2 settlement period. To ensure your clients do not fail settlement and incur penalty fees plus fail fees, cheques must be deposited and cleared at least three business days prior to placing trades. Alternatively, they may elect to pay their trades via direct debit or BPAY payment.

What happens if my clients pay via BPAY?

Payments made via BPAY will need to be completed on the Trade Date to ensure available funds are ready on the morning of T+2.

What are the impacts to my clients if they settle trades via their Investment Loan?

Under the new T+2 settlement period, your clients’ loan balance will be updated one day earlier. Accordingly, your clients’ loan liability will be updated once the trades are executed.

What happens during the transition to T+2?

The last T+3 trade execution date will be Friday 4 March 2016. The first T+2 trade execution date will be Monday 7 March 2016. Trades executed on both these dates will settle on Wednesday 9 March 2016.

Are there any changes to the Contra policy?

Yes, the ability to offset trades on T+2 will be removed as under T+2 this will become the settlement day.

When calculating the settlement amount and the settlement date, it is important to consider the residual amount after the trades are offset. Where the second trade is a higher value, settlement will occur T+2 after the higher value trade is executed.

The examples are for illustrative purposes only. The name and identifying features do not reflect any particular person; any resemblance to a real person is coincidental.

The presence of the stock mentioned should not be construed as a recommendation. No representation is given, warranty made or responsibility taken as to the appropriateness or performance of this stock.

The information in this website has been prepared without taking account of your objectives, financial situation or needs. Because of this, you should consider its appropriateness, having regard to your objectives, financial situation and needs and, if necessary, seek appropriate professional advice. If a Product Disclosure Statement is available in relation to a particular financial product, you should obtain and consider that Product Disclosure Statement before making any decisions about whether to acquire the financial product. Any securities or prices used in the examples on this website are for illustrative purposes only and should not be considered as a recommendation to buy, sell or hold. Past performance is not indicative of future performance.

This site is directed and available to and for the benefit of Australian residents only. Share Trading and Portfolio Administration and Reporting are services provided by Australian Investment Exchange Ltd (AUSIEX) ABN 71 076 515 930 AFSL 241400, a Participant of the ASX Group and Chi-X Australia. AUSIEX is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia (CBA) ABN 48 123 123 124 AFSL and Australian credit Licence 234945. Lending products under the CommSec Adviser Services brand are provided by CBA. Investment Loans are administered by its wholly owned but non-guaranteed subsidiary Commonwealth Securities Limited (CommSec) ABN 60 067 254 399 AFSL 238814, a participant of the ASX Group and Chi-X Australia.

This website contains general information for advisers only and does not take into account any individual objectives, financial situation or needs. Investors should read the relevant disclosure document and seek professional advice before making any decision based on this information. This website has been produced by Australian Investment Exchange Limited (AUSIEX) ABN 71 076 515 930 AFSL 241400 under the brand CommSec Adviser Services. CommSec Adviser Services (CAS) is a brand of Commonwealth Bank of Australia (the Bank) ABN 48 123 123 124 AFSL and Australian credit licence 234945.

Portfolio Service is offered by AUSIEX under the brand CAS and Colonial First State Custom Solutions (CFSCS), which is the registered business name of Avanteos Investments Limited (AIL) ABN 20 096 259 979 AFSL 245531. CFSCS and AUSIEX are wholly owned but non-guaranteed subsidiaries of the Bank. Portfolio Service provides access to the Trading Account, Accelerator Cash Account (ACA) and Managed Investments Account. The Managed Investments Account is an investor directed portfolio service (IDPS) operated by CFSCS. Share Trading and Investment Management services are provided by AUSIEX, a participant of the ASX Group and Chi-X Australia. The ACA and Term Deposit are deposit products issued by the Bank and administered by AUSIEX, under the brand CAS. The Investment Loan and CALIA+ lending products are available under the CAS brand are provided by the Bank and administered by the Bank’s wholly owned but non-guaranteed subsidiary Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814, a participant of the ASX Group and Chi-X Australia.

Acknowledgement

The validation and interactive prompts throughout the online application help ensure all information is complete and correct before application submission. The result is faster processing due to less rework because of missing or incorrect information as compared to our pdf applications.

Online validation for requests means you get a response on the likely success of the transfer instantly compared to a paper form. The result is faster processing due to less rework due to registration details not matching.